Preliminary dates of first well drilling on perspective block in Azerbaijan announced

Oil&Gas Materials 16 August 2012 17:56

Azerbaijan, Baku, Aug. 16 / Trend /

The start of the first exploration well drilling at the Shafag-Asiman structure is planned for 2015.

According to BP's report on the first half of 2012, the 3D seismic is followed by data processing which will continue into 2013. Then some 18 months will be required for data interpretation and another year for planning of the first exploration well.

SOCAR and BP signed the contract on Shafag-Asiman in October 2010 for a period of 30 years.

SOCAR and BP hold equal interests in the project.

Shafag and Asiman structures are located 125 kilometers to the south-east of Baku. SOCAR and BP signed a memorandum on Mutual understanding on the joint exploration and development of Shafag and Asiman in July 2009. Exploration work has not been conducted on the block before.